Binance launches $ 1 billion fund to develop BSC
Binance launches $1 billion fund to develop Binance Smart Chain
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the launch of a $1 billion fund to develop and support the Binance Smart Chain ecosystem. The fund will be divided into four programs:
- talent development ($100 million),
- stimulating liquidity ($100 million),
- incentives for developers ($300 million),
- investment program ($500 million), which will be aimed at supporting startups.
It's time to accelerate #BinanceSmartChain's journey towards scaling and mass adoption ?
We're announcing the biggest growth fund in the history of crypto – the $1 billion fund to push the adoption of not only BSC but the whole blockchain industry.
— Binance Smart Chain (@BinanceChain) October 12, 2021
After the exchange announced the launch of a new fund, the exchange rate of the internal token of the Binance Coin trading platform increased by 9%. At the time of this writing, the altcoin is trading at $430, and its capitalization is $72.5 billion.
According to a report by DappRadar, in the third quarter of this year, activity on the Binance Smart Chain network grew by 20%.
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